Hughes & Jones (Liverpool) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09890381 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 NOVEMBER 2015 TO 30 NOVEMBER 2016

FOR

HUGHES & JONES (LIVERPOOL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R. M. Hughes

D G Jones

REGISTERED OFFICE:

Stanhope House

Mark Rake

Bromborough

Merseyside

CH62 2DN

REGISTERED NUMBER:

09890381 (England and Wales)

ACCOUNTANTS:

PENNINGTON WILLIAMS

CHARTERED ACCOUNTANTS

Stanhope House

Mark Rake

Bromborough

Merseyside

CH62 2DN

FIXED ASSETS

Investment property

3

2,977,500

CURRENT ASSETS

Debtors

4

14,693

Cash at bank

5,461

20,154

CREDITORS

Amounts falling due within one year

5

1,133,516

NET CURRENT LIABILITIES

(1,113,362

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,864,138

PROVISIONS FOR LIABILITIES

373,118

NET ASSETS

1,491,020

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

8

1,490,920

SHAREHOLDERS' FUNDS

1,491,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 August 2017 and were signed on its behalf by:

D G Jones - Director

1.	STATUTORY INFORMATION

Hughes & Jones (Liverpool) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK

and Republic of Ireland" and the Companies Act 2006.

These financial statements for the year ended 30 November 2016 are the first financial statements that

comply with FRS 102 Section 1A for small entities and have been early adopted at 26 November 2015.

The financial statements have been prepared under the historical cost convention, except for

modification to a fair value basis for certain fixed assets, as specified in the accounting policies below.

The presentation currency is £ sterling.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade

creditors and directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the

undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss

is recognised in the profit and loss account.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in

operational existence for the foreseeable future. Thus they continue to adopt the going concern basis

of accounting in preparing the annual financial statements.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,009,518

Revaluations

1,967,982

At 30 November 2016

2,977,500

NET BOOK VALUE

At 30 November 2016

2,977,500

Cost or valuation at 30 November 2016 is represented by:

£

Valuation in 2016

1,967,982

Cost

1,009,518

2,977,500

The investment property was valued by Keppie Massie at an open market value in January 2017.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

13,387

Prepayments and accrued income

1,306

14,693

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

1,097,814

Accrued expenses

35,702

1,133,516

6.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other creditors

820,564

Stoneoak Investments Limited held a fixed and floating charge over the freehold investment property

known as 27 Bridgewater Street, Liverpool, L1 0AR created on 14 June 2016. The charge has since

been satisfied after the year end on 1 March 2017.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

8.

RESERVES

Retained

earnings

£

Profit for the period

1,490,920

At 30 November 2016

1,490,920

Reserves includes £103,944 realised trading losses and £1,594,864 none distributable fair value gains

on investment property.

The none distributable reserves of £1,594,864 relating to revaluations of investment properties is net of

the deferred tax provision.

9.	RELATED PARTY DISCLOSURES

Other debtors includes payments of £13,387 to Arnold & Jones Limited, a company in which Mr D

Jones is both a director and shareholder.

Other creditors includes a loan of £97,622 from Mrs K Jones, spouse of Mr D Jones. The loan was

provided under normal market conditions.